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Salt Lake Homes On The Market 6 Months Or More

December 12, 2011 By Leave a Comment

If you are the type buyer that only looks at Salt Lake Homes on the Market 6 Months or More, then your not as lucky as home buyers in other parts of the country.

According to the recent Realtors® Confidence Index, the percentage of homes listed across the U.S, and on the market for six months or more has increased to 29 percent—up from recent experience but still somewhat lower than earlier this year.

  • In comparison, a total of 71 percent of homes currently for sale have been on the market less than six months, and 34 percent have been on the market for 2 months or less.

In Salt Lake County though, that number is considerably less. Of the 4,597  homes listed for sale in Salt Lake County, only 784 have been on the market more than 6 months. That means that those home buyers and investors that think that you get the best buy on a house that has been listed a very long time, are overlooking over 80 percent of the available homes on the MLS. That’s right, only 17% of the available houses & condos listed for sale in Salt Lake have been on the market 6 months or more. Only Six per cent of all the listed houses & condos in S.L. have been there a year or more.

These home buyers may have missed some pretty nice deals.

Wonder where most of these problem homes are? Want to know where to start looking?  They are all over the Valley. Two hundred forty are in Downtown Salt Lake City. West Jordan has the next highest number of homes on the market longer than 6 months with 83, followed by Sandy at 65  South Jordan at 49 and West Valley City with 46. Generally,  these are the areas that you would expect. No surprises here. The surprises are in Bluffdale & Midvale UT. Bluffdale because so few homes have been listed for over 6 months (5) and Midvale UT, because in such a small market so many houses take a long time to sell (45).

Foreclosures and foreclosed homes in Salt Lake don’t show up usually has having been on the market for a long time.

Foreclosures usually don’t show up as having been listed a long time, and the good ones don’t last long once they are listed. You can be sure to see all of the Salt Lake Foreclosed homes on our website.

To search for houses and condos that have been listed a long time, you can click on short sales in SLC, or just log in to the city you are interested and check homes by DOM, selecting the number of days back you are interested in.

Or you can give us a call @ 801-567-0946 and ask is about Salt Lake Homes on The Market 6 Months or More.

 

Filed Under: For Buyers, Foreclosures, Homes For Sale, Short Sales Tagged With:

TRAX is Connecting Salt Lake City With the South Valley.

December 11, 2011 By Leave a Comment

TRAX is Connecting Salt Lake City With the South Valley,and at least once a week we get a call from someone looking for a home near TRAX in West Jordan, Midvale, Murray or South Jordan UT.
It’s been more than 4 years now since we first posted about the plans for connecting the Southwest part of the Salt Lake Valley with Downtown Salt Lake via light rail. In our post we called it the Mid-Jordan line and it was to start in Murray, go on through Midvale, continue to West Jordan where it would turn South to reach the final destination @ Daybreak in South Jordan UT. This is what was promised, and this is what we wrote 4 years ago last month.
Mid Jordan Light Rail & Real Estate
The Mid- Jordan Light Rail Corridor means less traffic, cleaner air, and rising Real Estate values. Just like in the old west, if you owned land in the path of the tracks you were in good shape. Today, if you own a house or condominium along the corridor of the Mid- Jordan Trax line you’re in the path of rising Real Estate values, according to South Jordan City Manager Rick Horst. In an article in the December issue of the West Jordan Journal, by Caroline Kingsley, Mr Horst is quoted as saying “the Mid- Jordan Line is critical to the city and its transportation plans as South Jordan grows from its current population of 50,000 to over 140,000″.

West Jordan Community Development Director, Tom Burdett further stated that “land values around light rail lines traditionally go up along their corridors”. “That happens primarily because of access to TRAX, you can easily access light rail and create a more walkable environment for that Real Estate around it”.

Ms. Kingsley defines the Mid-Jordan line as running parallel to the Bingham Branch Railroad for 10.6 miles, beginning @ the 6400 South TRAX station in Murray, west through Midvale to 5600 West, south of Welby Junction in West Jordan. The line will then turn south and will end in the South Jordan, Daybreak community.

The article further states that if all goes as planned, construction will begin early next year, and will take around three years to complete.

For more information about Real Estate opportunities along the Mid-Jordan corridor, give me a call @ 801-567-0946. For Real Estate Information and home buying/selling resources in the Salt Lake Valley, visit my website @ Salt Lake Homes

Four years later, the tracks are laid, stations are built, & hundreds of people a day ride TRAX to work from homes and condominiums along that path. Folks have bought houses and Condos in Daybreak in South Jordan, Vista Montana in West Jordan, The Rooftops in Midvale and Condos inFireclay in Murray UT, in many cases for the very reasons we mentioned right here, back then. We didn’t sell them all, but we like to think we had an influence with this one post.

Were not done.

If you are looking to buy a home in the SL Valley, consider locating close to TRAX. To find  listings that put you near all the advantages of light rail, in Downtown Salt Lake, West Jordan, Murray, Midvale, and South Jordan, use the map search @ search SLC by map.

If you see anything you like, give us a call @ 801-567-0946. We can help you & TRAX connect with Salt Lake City from the South Valley

Filed Under: For Buyers, Homes For Sale, Salt Lake County Tagged With: , , , ,

Tooele UT Still Has A Lot To Offer

December 10, 2011 By Leave a Comment
Tooele UT still has a lot to offer, or, “It’s easier to make lemonade when you have quality lemons”….

I was a “newbie” in Tooele County back in the early ’90s, when the death
sentence was pronounced. Tooele County was losing it’s largest and most important employer. With the closure of the Tooele Army Depot, Tooele was
“dead”. The loss of the jobs meant that there was no real reason for anyone to
stay here, much less move in.

I’ve been reminded of the bad old days quite a bit over the last several
years, as the chemical weapons stockpile gets close to being eliminated, thanks
to the hard work of all the good folks that have worked at “south area” for
EG&G, the US Army, and others. A recent article in the Salt Lake Tribune
touched a bit on this latest death sentence. However, to paraphrase Mark Twain,
the reports of the death of Tooele County are greatly exaggerated!

Yes, like back in the ’90s, the loss of one of our largest employers is a
tough one to take, especially in these hard economic times. However, as was
touched on in the article, Tooele City, Grantsville and Stansbury Park in Tooele County are
working hard to mitigate the damage done. Tooele City especially has been very
aggressive in their economic development program. All these entities have been
busily telling the world that there’s a reason that residential  growth in this
County actually exploded in the late ’90s. Many of these reasons are the same
ones that will attract commercial growth to Tooele, along with some good paying
jobs to replace those we’re in the midst of losing.

So, what makes Tooele so attractive to commercial and industrial companies?
Proximity to a major economic and transportation hub? Got it, 30 minutes to Salt
Lake City, with it’s major airport and lots of rails, some of which come right
through our back yard. A major trucking artery with I-80. There’s a reason
Wal-Mart set up a major distribution center in Grantsville a few years ago!

How about property at a reasonable price? Again, our prices are much lower
than most along the Wasatch Front, which is one reason we get so many folks
moving out here. Large tracts of land abound, all close to what passes as
“major” population centers out here. A willingness to allow responsible
growth.

How about a workforce? that’s an easy one. With better than half our folks
commuting to the big city, there are plenty of folks that will be willing to
stay local, even if the commute is a short one. In addition, the local
commitment to a well educated workforce is evident when you consider the new
“education corridor” that started with the new Community learning Center, the
ever expanding presence of Utah State University, and the addition of the new
Tooele Applied Technology College building slated to break ground this
spring.

Finally, the commitment of the Cities and County to economic development
means they are working hard to get in front of the folks that matter, wherever
they are. They are working closely with the Governor’s Office of Economic
Development to get our message out to the world. Tooele City has a gem for an
Economic Development Director in Randy Sant, and the County has Nicole Cline,
the official mentioned in the article. We have plenty of folks singing from the
same sheet of music.

So, are we watching the demise of a whole County? I think not. All signs
point to this simply being another stage in the continued growth of a vibrant,
dynamic County, with all of the potential in the world. As Ms. Cline mentioned
in the article, “we’re making lemonade”. Sure helps when you have some great
lemons! Or for some plain talk, Tooele UT still has a lot to offer.

Filed Under: For Buyers, Relocation, Tooele County Tagged With: , , ,

Short Sales in Salt Lake City Where are They?

November 24, 2011 By Leave a Comment

I’m asked almost daily, where are the short sales around Salt Lake City? Folks have heard that buying a distressed property is a great way to get the best deal in a SLC home.

Buying a short sale or a pre-foreclosed home is not for the faint of heart. Working with home sellers that are about to lose what was once their biggest asset, and the family anchor is no picnic. Trying to get a lender to accept less than what they are owed is adversarial to begin with, and when you need to deal with 2 banks, as is often the case, each day starts with problems.

But those problems are for another post.

Lets deal with where we can find short sales if we have the stamina to get a great deal on a Salt Lake City pre-foreclosure.

With all the talk of the sub prime mortgage problems, bailouts and a declining Real Estate market in general, I thought it might be helpful to see just where those homes were located and which areas of the Salt Lake Valley were more likely to turn up the best “deal” for a home buyer, or Real Estate Investor.
Here is a current list of the number of pre foreclosed homes (short sales) in Salt Lake City,  by city, listed on the MLS

West Jordan:
Homes For Sale 504
Short sales 237
Percentage 47%
W. Jordan Houses Sold in last 30 days 93

South Jordan:
Homes for Sale 366
Short Sale Homes 88
Percentage 24%
South Jordan Houses and Condos Sold in last 30 days 65

Sandy:
Homes for sale 500
Problem homes 131
Percentage 26%
Sandy UT Homes Sold in last 30 days 103

Murray UT:
Homes for sale 204
Problem Homes
Percentage 24%
Homes & Condos Sold Murray in last 30 days 30

Riverton:
Homes for sale 191
Problem homes (short Sales) 75
Percentage 39%
Houses Sold in Riverton last 30 days 37

Herriman Utah:
Homes for sale 218
Short Sales 72
Percentage 33%
Sold in Riverton last 30 days 25 Houses

Salt Lake City:
Homes for sale 1663
Short Sales 339
Percentage 20%
Salt Lake City Homes & Condominiums Sold Last 30 day sales 271

West Valley City:
Homes for sale 449
W.V.Short Sales 214
Percentage 48%
House Sales last 30 days 92

So…… based on these numbers supplied by the Wasatch Front Regional Listing Service, (MLS), the answer to where are the short sales in Salt Lake City is West Jordan, Riverton and West Valley City. At least those have the highest percentage of short sales among the listing inventory.

For a complete list of all the Salt Lake City and surrounding area homes for sale check out my website and select either Salt Lake Homes, for EVERYTHING listed no matter who the listing agent is, or  just short sales and distressed houses. There is no registration needed, and since we update daily you should come back often.

We would love to show you some of these homes, or discuss a strategy for you to take advantage of a real “buyers market”. You can call at 801-567-0946.

Give us a call if you want more information about Short Sales in Salt Lake City Utah.

Filed Under: For Buyers, Homes For Sale, Salt Lake County, Short Sales Tagged With: , , , , , , ,